The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M Company COM 88579y101 1,792 12,640 SH   SOLE   0 0 12,640
AER Energy Resources Inc COM 000944207 0 5,000,000 SH   SOLE   0 0 5,000,000
AT&T, Inc. COM 00206R102 8,032 246,534 SH   SOLE   0 0 246,534
AbbVie, Inc. COM 00287y109 689 12,660 SH   SOLE   0 0 12,660
Abbott Laboratories COM 002824100 374 9,308 SH   SOLE   0 0 9,308
Accenture Ltd COM g1151c101 19,708 200,570 SH   SOLE   0 0 200,570
Alamos Gold Inc New Cl A COM 011532108 39 10,596 SH   SOLE   0 0 10,596
AllState Corp. COM 020002101 292 5,011 SH   SOLE   0 0 5,011
Alphabet Inc. Class A COM 02079k305 405 634 SH   SOLE   0 0 634
Alphabet Inc. Class C COM 02079k107 3,518 5,782 SH   SOLE   0 0 5,782
Altria Group, Inc. COM 02209s103 3,337 61,341 SH   SOLE   0 0 61,341
Amazon.com COM 023135106 5,371 10,493 SH   SOLE   0 0 10,493
American Airlines Grp COM 02376R102 877 22,597 SH   SOLE   0 0 22,597
American Express Co. COM 025816109 651 8,776 SH   SOLE   0 0 8,776
American Int'l Group COM 026874784 1,106 19,466 SH   SOLE   0 0 19,466
Amgen Inc. COM 031162100 3,042 21,996 SH   SOLE   0 0 21,996
Apache Corp. COM 037411105 4,055 103,545 SH   SOLE   0 0 103,545
Apple Computer COM 037833100 16,948 153,651 SH   SOLE   0 0 153,651
Approach Resources COM 03834A103 43 23,000 SH   SOLE   0 0 23,000
Automatic Data Processing COM 053015103 419 5,214 SH   SOLE   0 0 5,214
BP PLC COM 055622104 1,441 47,162 SH   SOLE   0 0 47,162
Baker Hughes, Inc. COM 057224107 358 6,877 SH   SOLE   0 0 6,877
Banco LatinoAmericano COM P16994132 16,680 720,527 SH   SOLE   0 0 720,527
BankAmerica Corp. COM 060505104 251 16,091 SH   SOLE   0 0 16,091
Berkshire Hathaway 'A' COM 084670108 1,367 7 SH   SOLE   0 0 7
Berkshire Hathaway 'B' COM 084670702 77,531 594,562 SH   SOLE   0 0 594,562
Boardwalk Pipeline Prtnrs LP COM 096627104 5,605 476,217 SH   SOLE   0 0 476,217
Boeing Co. COM 097023105 241 1,842 SH   SOLE   0 0 1,842
Bristol Myers Squibb COM 110122108 2,581 43,594 SH   SOLE   0 0 43,594
Brookdale Sr Living Inc COM 112463104 5,994 261,049 SH   SOLE   0 0 261,049
Brookfield Pptys Part COM G16249107 365 17,000 SH   SOLE   0 0 17,000
CVS Caremark Corp. COM 126650100 387 4,015 SH   SOLE   0 0 4,015
Cable One Inc COM 12685j105 985 2,349 SH   SOLE   0 0 2,349
Campbell Soup Co. COM 134429109 4,409 87,000 SH   SOLE   0 0 87,000
Caterpillar Inc. COM 149123101 5,093 77,919 SH   SOLE   0 0 77,919
Celgene Corp. COM 151020104 287 2,650 SH   SOLE   0 0 2,650
Chesapeake Energy COM 165167107 1,460 199,117 SH   SOLE   0 0 199,117
Chevron Corp. COM 166764100 1,418 17,980 SH   SOLE   0 0 17,980
Cisco Systems Inc. COM 17275R102 4,526 172,431 SH   SOLE   0 0 172,431
Citigroup Inc. COM 172967424 266 5,368 SH   SOLE   0 0 5,368
Coca Cola Co. COM 191216100 3,194 79,606 SH   SOLE   0 0 79,606
Colgate Palmolive Co. COM 194162103 215 3,395 SH   SOLE   0 0 3,395
Comcast Corp. - Class A COM 20030n101 753 13,232 SH   SOLE   0 0 13,232
Comcast Corp. Special Class A COM 20030N200 1,944 33,965 SH   SOLE   0 0 33,965
Computer Sciences Corp. COM 205363104 1,969 32,086 SH   SOLE   0 0 32,086
ConocoPhillips COM 20825c104 280 5,848 SH   SOLE   0 0 5,848
Corrections Corp Amer COM 22025y407 26,692 903,575 SH   SOLE   0 0 903,575
Darden Restaurants, Inc. COM 237194105 343 5,000 SH   SOLE   0 0 5,000
Delta Airlines Inc. COM 247361702 2,682 59,779 SH   SOLE   0 0 59,779
Dentsply Intl Inc COM 249030107 1,767 34,939 SH   SOLE   0 0 34,939
Diageo PLC COM 25243Q205 1,030 9,555 SH   SOLE   0 0 9,555
Dominion Resources, Inc. COM 25746u109 1,627 23,111 SH   SOLE   0 0 23,111
Duke Energy Corp. COM 26441c204 4,239 58,922 SH   SOLE   0 0 58,922
E. I. Dupont de Nemours & Co. COM 263534109 204 4,238 SH   SOLE   0 0 4,238
Express Scripts, Inc. COM 30219g108 1,547 19,110 SH   SOLE   0 0 19,110
Exxon Mobil Corp. COM 30231G102 12,675 170,481 SH   SOLE   0 0 170,481
Fairfax Financial Hld COM 303901102 75,776 166,328 SH   SOLE   0 0 166,328
FedEx Corp. COM 31428X106 8,365 58,098 SH   SOLE   0 0 58,098
First Horizon Nat'l COM 320517105 149 10,474 SH   SOLE   0 0 10,474
Forestar Group COM 346233109 1,085 82,500 SH   SOLE   0 0 82,500
Gannett Co. Inc. COM 36473h104 4,456 302,502 SH   SOLE   0 0 302,502
General Electric Co. COM 369604103 9,041 358,474 SH   SOLE   0 0 358,474
General Mills Inc. COM 370334104 2,287 40,745 SH   SOLE   0 0 40,745
Goldman Sachs Group COM 38141g104 879 5,060 SH   SOLE   0 0 5,060
Graham Holdings Co COM 384637104 1,355 2,349 SH   SOLE   0 0 2,349
HCA Holdings, Inc. COM 40412C101 34,790 449,717 SH   SOLE   0 0 449,717
HCC Ins Hldgs COM 404132102 10,701 138,132 SH   SOLE   0 0 138,132
HCP Inc COM 40414L109 6,678 179,265 SH   SOLE   0 0 179,265
Halliburton Inc. COM 406216101 5,797 164,001 SH   SOLE   0 0 164,001
HealthStream Inc. COM 42222n103 297 13,600 SH   SOLE   0 0 13,600
Hewlett Packard Co. COM 428236103 352 13,731 SH   SOLE   0 0 13,731
Home Depot Inc. COM 437076102 7,713 66,787 SH   SOLE   0 0 66,787
Honeywell Intl. COM 438516106 936 9,885 SH   SOLE   0 0 9,885
Horsehead Holding COM 440694305 298 98,000 SH   SOLE   0 0 98,000
Intel Corp. COM 458140100 8,643 286,776 SH   SOLE   0 0 286,776
International Business Machine COM 459200101 5,539 38,208 SH   SOLE   0 0 38,208
J. P. Morgan Chase & Co. Inc. COM 46625h100 937 15,373 SH   SOLE   0 0 15,373
Johnson & Johnson COM 478160104 10,875 116,497 SH   SOLE   0 0 116,497
KKR & Company LP COM 48248M102 2,999 178,703 SH   SOLE   0 0 178,703
Kraft Heinz Company COM 500754106 2,263 32,068 SH   SOLE   0 0 32,068
L-3 Communications COM 502424104 355 3,400 SH   SOLE   0 0 3,400
Leucadia Natl Corp COM 527288104 5,048 249,171 SH   SOLE   0 0 249,171
Level 3 Commun COM 52729N308 24,544 561,771 SH   SOLE   0 0 561,771
LinnCo, LLC COM 535782106 281 103,793 SH   SOLE   0 0 103,793
Loews Corp. COM 540424108 15,113 418,179 SH   SOLE   0 0 418,179
Lowes Companies COM 548661107 6,807 98,767 SH   SOLE   0 0 98,767
McCormick COM 579780206 1,269 15,440 SH   SOLE   0 0 15,440
McDonalds Corp. COM 580135101 2,733 27,738 SH   SOLE   0 0 27,738
Mead Johnson Nutrition COM 582839106 374 5,314 SH   SOLE   0 0 5,314
Medtronic PLC COM G5960L103 3,733 55,762 SH   SOLE   0 0 55,762
Merck & Company Inc. COM 58933y105 5,198 105,239 SH   SOLE   0 0 105,239
Microsoft Corp. COM 594918104 4,961 112,096 SH   SOLE   0 0 112,096
Mondelez Int'l Inc COM 609207105 13,000 310,478 SH   SOLE   0 0 310,478
Monmouth REIT COM 609720107 127 13,000 SH   SOLE   0 0 13,000
National Health Invstrs COM 63633d104 12,775 222,214 SH   SOLE   0 0 222,214
National Healthcare COM 635906100 538 8,834 SH   SOLE   0 0 8,834
Newmont Mining Corp COM 651639106 637 39,640 SH   SOLE   0 0 39,640
Novartis AG COM 66987v109 701 7,631 SH   SOLE   0 0 7,631
Oracle COM 68389x105 2,501 69,244 SH   SOLE   0 0 69,244
Overstock COM 690370101 6,049 352,519 SH   SOLE   0 0 352,519
Owens Corning COM 690742101 798 19,047 SH   SOLE   0 0 19,047
Owens Illinois Inc New COM 690768403 6,817 329,000 SH   SOLE   0 0 329,000
Pan American Silver COM 697900108 222 35,000 SH   SOLE   0 0 35,000
Peoples United Fncl COM 712704105 15,491 984,778 SH   SOLE   0 0 984,778
PepsiCo Inc. COM 713448108 2,345 24,866 SH   SOLE   0 0 24,866
Pfizer Inc. COM 717081103 3,146 100,149 SH   SOLE   0 0 100,149
Philip Morris Intl COM 718172109 6,739 84,945 SH   SOLE   0 0 84,945
Phillips 66 COM 718546104 276 3,598 SH   SOLE   0 0 3,598
Pico Holdings COM 693366205 382 39,500 SH   SOLE   0 0 39,500
Pinnacle Financial Partners COM 72346q104 366 7,405 SH   SOLE   0 0 7,405
Procter & Gamble Co. COM 742718109 10,514 146,153 SH   SOLE   0 0 146,153
Regions Financial Corp. COM 7591ep100 775 85,966 SH   SOLE   0 0 85,966
Republic Services Inc. COM 760759100 5,476 132,908 SH   SOLE   0 0 132,908
Roche Holdings COM 771195104 3,358 101,904 SH   SOLE   0 0 101,904
Royal Dutch Shell Class B COM 780259107 1,092 23,008 SH   SOLE   0 0 23,008
S & P 500 Index Depository Rec COM 78462F103 2,102 10,970 SH   SOLE   0 0 10,970
SPDR Gold Trust COM 78463V107 844 7,900 SH   SOLE   0 0 7,900
SPDR Utilities Select COM 81369Y886 2,168 50,071 SH   SOLE   0 0 50,071
Schlumberger Ltd. COM 806857108 8,750 126,873 SH   SOLE   0 0 126,873
Scripps Networks Interactive, COM 811065101 1,457 29,625 SH   SOLE   0 0 29,625
Select Basic Materials Sector COM 81369y100 1,376 34,466 SH   SOLE   0 0 34,466
Sigma Aldrich Corp. COM 826552101 556 4,000 SH   SOLE   0 0 4,000
Southwest Airlines Co. COM 844741108 1,706 44,848 SH   SOLE   0 0 44,848
St. Jude Medical Inc. COM 790849103 566 8,975 SH   SOLE   0 0 8,975
Starbucks Corp. COM 855244109 1,339 23,558 SH   SOLE   0 0 23,558
SunCoke Energy COM 86722A103 206 26,500 SH   SOLE   0 0 26,500
SunTrust Banks Inc. COM 867914103 1,453 37,986 SH   SOLE   0 0 37,986
Sysco Corp. COM 871829107 6,915 177,451 SH   SOLE   0 0 177,451
TEGNA, Inc. COM 87901j105 14,321 639,628 SH   SOLE   0 0 639,628
TJX Companies, Inc. COM 872540109 740 10,355 SH   SOLE   0 0 10,355
Tejon Ranch Co. COM 879080109 240 11,000 SH   SOLE   0 0 11,000
Tidewater Inc. COM 886423102 1,500 114,133 SH   SOLE   0 0 114,133
Transocean, Ltd COM H8817H100 181 14,002 SH   SOLE   0 0 14,002
Travelers Inc. COM 89417e109 657 6,600 SH   SOLE   0 0 6,600
Truxton Corp. COM 89845y107 294 14,010 SH   SOLE   0 0 14,010
Twenty-First Cent Fox Inc. Cl COM 90130a101 2,279 84,454 SH   SOLE   0 0 84,454
Twenty-First Cent Fox Inc. Cl COM 90130A200 3,734 137,945 SH   SOLE   0 0 137,945
US Bancorp COM 902973304 544 13,275 SH   SOLE   0 0 13,275
United Parcel Svc. Cl B COM 911312106 5,432 55,045 SH   SOLE   0 0 55,045
United Rentals, Inc. COM 911363109 1,169 19,460 SH   SOLE   0 0 19,460
United Technologies COM 913017109 8,651 97,217 SH   SOLE   0 0 97,217
Vanguard Emerging Markets ETF COM 922042858 1,490 45,016 SH   SOLE   0 0 45,016
Vanguard Large-Cap Exchanged T COM 922908637 509 5,785 SH   SOLE   0 0 5,785
Vanguard Mid-Cap Exchange Trad COM 922908629 277 2,375 SH   SOLE   0 0 2,375
Vanguard Small-Cap VIPERs COM 922908751 417 3,859 SH   SOLE   0 0 3,859
Verifone Holdings, Inc. COM 92342y109 216 7,800 SH   SOLE   0 0 7,800
Verizon Comm. COM 92343v104 7,340 168,700 SH   SOLE   0 0 168,700
Vodafone Group PLC ADS COM 92857w308 1,189 37,450 SH   SOLE   0 0 37,450
Vulcan Materials COM 929160109 1,183 13,263 SH   SOLE   0 0 13,263
Wal-Mart Stores Inc. COM 931142103 7,736 119,305 SH   SOLE   0 0 119,305
Walt Disney Co. COM 254687106 10,720 104,888 SH   SOLE   0 0 104,888
Wells Fargo & Co. COM 949746101 3,431 66,808 SH   SOLE   0 0 66,808
Western Union COM 959802109 723 39,355 SH   SOLE   0 0 39,355
White Mountain Ins COM G9618E107 3,663 4,902 SH   SOLE   0 0 4,902
Zimmer Biomet Holdings, Inc. COM 98956p102 580 6,176 SH   SOLE   0 0 6,176
Zoetis, Inc. COM 98978v103 1,673 40,630 SH   SOLE   0 0 40,630
iShares FTSE China 25 Index Fu COM 464287184 2,030 57,225 SH   SOLE   0 0 57,225
iShares MSCI EAFE Index Fund COM 464287465 270 4,702 SH   SOLE   0 0 4,702
iShares MSCI Emerging Markets COM 464287234 1,265 38,593 SH   SOLE   0 0 38,593
iShares MSCI Pacific Rim COM 464286665 1,219 33,246 SH   SOLE   0 0 33,246
iShares Russell 1000 Index ETF COM 464287622 492 4,595 SH   SOLE   0 0 4,595
iShares Russell Mid-Cap Index COM 464287499 264 1,696 SH   SOLE   0 0 1,696
iShares S&P 500 Core Index ETF COM 464287200 378 1,960 SH   SOLE   0 0 1,960
iShares S&P SmallCap 600 Index COM 464287804 2,861 26,845 SH   SOLE   0 0 26,845
Natl Healthcare Cv Prf PFD CV 635906209 434 28,078 SH   SOLE   0 0 28,078